The writing quality of online news websites is getting worse compared to print newspapers and magazines.This is a little understandable because of the instant rush to get it online first. However, usually if there is an obvious goof in print media, the respective paper or magazine will print a correction in the next issue. Online mistakes seem to be ignored and sometimes you wonder if an editor ever reads the articles before they are put online. One of the most obvious and pathetic goofs was on CNN.com on Saturday. On their front page, main article, the headline story has a picture of President Obama and Mexican President Calderon. The headline underneath it? “Bush, Calderon huddle over flu”
Are you kidding me?? How did this make it to the front page without someone catching the mistake. It took at least seven minutes before it was fixed. Either someone was playing a trick or that’s just pathetic editing.
Here are my 2009 predictions. None that are too far out there. Just a basic assessment of what I think might happen in 2009.
Barack the Celebrity
Obama’s approval ratings remain historically high but lower than the inauguration euphoria – Obama’s ability to inspire change and leadership at such a dour time in America gives him public leeway not seen since, well, 9/11. However, Obama’s pragmatism will help him keep the country on course and inspired throughout 2009. He has already made key changes in ethics regulations and state diplomacy in his first days in office. The only thing that will stop him will be… Congress.
Don’t expect much from Congress – Congress had lower approval ratings than President Bush in 2008, even with the Democratic majority and push for change. Expect the same from Pelosi and Reid, who are not strong leaders and have plenty of personal ambitions to prove Congressional strength to the Executive strength. Couple with the Republicans fight for relevancy, expect a 2009 of posturing and tit-for-tats. 2010 seems like a better year for Congress because the public will side with Obama over the frustrating bureaucracy in Congress in 2009.
The market moves sideways – There will be strong forces pulling the economy from both the recession side and the growth side. It is what I call the economic paradox. As the economy falls, oil prices drop and the US Dollar rises (somewhat surprisingly). However, as global growth resumes, oil demand and commodity prices rise again and the US Dollar falls (since investors will begin investing in riskier assets instead of US Treasuries). Both are problems for America. Obama seems focused on passing bills and bailouts that will help light a fire under the economy, especially job market. However, the more he does the more inflation becomes a risk. Expect several major rises and several major slides, but by the end of 2009, the Dow Jones will still be in the 7500-9000 range.
Gold surpasses $1000/oz again – Because of the economic paradox, gold will continue to maintain its safe haven status in 2009. One of these days, gold will surpass $1000/oz again. In looking at the GLD chart, gold hit a low in mid-Nov 08 and has since built a nice rising linear resistance that it bounded in early Dec 08 and mid Jan 09. If gold breaks the upper linear resistance of $900/oz expect $1000/oz in Feb 09. If it does not expect a pullback. Aside from the technicals, 2009 is still a year of unforeseen economic strife and that will keep the price of gold high. Depending on where the economic paradox is at the end of 2009, gold will either be well above $1000/oz or testing it’s multi-year lows of $700/oz again.
Gold (GLD) prices from Jan 2008 to Jan 2009 (12-EMA green, 50-EMA red)
There will only be one viable American automaker by year’s end – The Big Three is already, in essence, the Small Two. Chrysler’s recent gift of 35% stake to Fiat for its access to technology and services is a desperation move to prove to the U.S. government that it has a viable plan to survive. However, the U.S. government is not going to perpetually support a half-foreign owned company at taxpayers expense. As for GM and Ford, 2009 will still be a very tough market. Any uptick by buyers will simply be for fuel efficient cars built by Toyota, Honda and even Hyundai. GM is effectively surviving on federal assistance, which runs out every few months. A radical solution has to found soon. Don’t fret though, because of the uniqueness of this market, hopes abound for small automakers that can make a difference in “green” vehicles.
Yankees back in business – Sorry non-Yankees fans, but 2009 is appearing to be the Year of the Yankees. A new stadium, a team salary in excess of $200 million, a re-focused Arod with Mark Texeira pushing him, injury free Posada, Matsui and Chamberlain? It’s gonna be a great three-team AL East battle all summer. Yankees will win the division and make it to the World Series once again.
10. Yahoo rejects Microsoft’s $45 billion takeover offer – February 11, 2008. This one has to rank as one of the most stupid business decisions ever. Since Yahoo practically started the internet search business back in the 1990s, they have quickly given up their dominant position to Google in the past ten years without a major fight. By the middle of 2007, Google had a 53.6% market share of the search engine business, versus Yahoo’s rapidly shrinking 19.9%. Microsoft’s $44.6 billion in cash and stock offer was literally a lifeboat and gave Yahoo the best chance for long-term survival. Yahoo rejected the offer and a later offer in May valued each Yahoo share price at $33. Yahoo’s share price had been languishing around $19 in recent years. Yahoo’s CEO and founder Jerry Yang demanded $37/shr! Eventually Microsoft got tired of Yahoo’s demands and pulled all negotiations off the table. What is Yahoo today, end of 2008? The share price is $13.03 and Yang was ousted in November. Although Microsoft still has lukewarm interest in Yahoo’s search business, the main opportunity for Yahoo has passed.
9. Housing prices continue to go down town – It’s amazing how so many analysts and normal people knew that the meteoric rise of housing prices was due to risky ARMs and other loans that were impractical and ticking time bombs. It’s amazing the federal government did not see this coming or chose to not do anything about it. Because of the dot com bust from a few years ago and the recession soon after, the Feds turned a blind eye and let free credit run rampant. The bomb went off in 2006, and median housing prices have gone on a free-fall from an inflation-adjusted high of $275,000 in 2005 to near $200,000 at the end of 2008. It will take a good while to sort this thing out. Housing prices are still historically high and with high unemployment rates, increasing foreclosures will continue to flood an already over-supplied realty market.
8. Unemployment rate – The United States has been pretty lucky in terms of unemployment rates for the past two decades or so. Ever since the recovery from the high inflation, 9.0+% unemployment rates of the early 1980s, the rate has stayed well below 8.0%. Since 1995, the rate has performed even better, only touching above 6.0% once during the short recession recovery in 2003. In January 2008, the rate was around 5.0% but had already been steadily rising throughout 2007. Since this January, the rate has put on the rocket boosters and is now at 6.7% nationally, with no signs of slowing down. Several states, such as Michigan (9.6%) and Rhode Island (9.3%) already have unemployments rates above 9.0%! Another five states have rates above 8.0%! Stats were from Nov 2008 and look to be higher when December stats come out.
7. What happened to the commodities bull market? – Oil, gold, silver, platinum and copper. All were at multi-decade highs in 2007 and even in 2008. Since then? Crude oil prices have dropped from $150+/bl to $37/bl! Most commodities lost more than half their values. Exchange-traded funds such as SLV, GSG, and XLE all dropped more than 50%. The one exception so far has been gold. Although gold prices have dropped from a high over $1000/oz, they have not dropped below $700/oz, and have recovered into the $800s since then. Gold is an unique commodity and it appears that it mostly trades as a safe-haven currency than a physical commodity. In looking at the chart of GLD (below), gold prices have solidly bottomed out at $70/shr and is looking like it will have a strong 2009.
6. Remember the $168 billion original stimulus package? – That amount seems so little nowadays especially when Obama is bandying around an $800B to $1 trillion stimulus package. Add to that the $750B bailout package given to financial companies and automobile companies. This is a year of bailouts and stimuluses and so far they have not helped the economy. Instead, the state of the economy is at its worst at the end of 2008. The expected package by Obama will be an early focus of the Obama administration. I think most people could use an extra few hundred dollars in their pockets.
5. The survival of American automobile companies – General Motors, Ford Motor Co. and Chrysler became the poster child of the current economic crisis hitting main street. On display was the millions of jobs, especially blue-collar jobs, in America at risk of disappearing due to the recent decades of mismanagement, overhead and foreign competition of the US auto industry. With the finance industry easily getting a $750B bailout, it seemed absurd that an industry that for decades represented hard working Americans and unions had to literally beg for a few billion dollars to survive. It was obvious where the attention of politicians were. Although Bush recently said that $18B of the $750B bailout would be immediately used to prop up GM and Chrysler, the long fought battle was wasted time and energy by the attention garnering and bureaucratic Congress.
4. Bernard Madoff arrested on $50B Ponzi fraud scheme – When the $50 billion Ponzi fraud scheme by Bernard Madoff was revealed in early December, it was the main headline of major news websites for a mere few hours. Since then, as more details trickle out, the fraud continues to take a back seat to the macro-economic recession covering the globe. In any other year, the news of a legendary and consummate businessman (and a former NASDAQ chairman) being arrested for a fraud-scheme covering possibly the largest dollar amount in Wall Street history would ripple for weeks, if not months. However, with white collar crimes dominating the post-dot-com era (Enron, Worldcom, Martha Stewart, Tyco and the 2008 unraveling of the hedge fund industry), the public is now immune to financial fraud. Quite unfortunate. (See here for What is a Ponzi scheme)
Corporate bankruptcies on the rise in 2008.
3. Bankruptcies and those near it – It has been a sad year for many corporations as they head towards bankruptcy. Many of them well-known with years of solid profits. The list continues to grow and the impact of the recession on the consumer and his/her buying habits is only beginning. Circuit City, Linens ‘N Things, KB Toys, Frontier Airlines, Mrs. Field Cookies, Steve & Barry’s, Whitehall Jewelers, Mervyns, Sharper Image and Waffle House are some of the big name bankruptcies. And this list doesn’t even mention financial companies, which I discuss in #2. See this list for a more comprehensive list of corporate bankruptcies in 2008.
2. The demise of the hedge fund and mortgage finance industry – The derivatives market has become a multi-billion (if not, trillion) dollar investment industry that is complicated and largely misunderstood, even by the most astute financial advisors. Derivatives, as its name suggests, are investment products that are created off of actual traditional investment products. That means their intrinsic value is conjured up and their existence puts them closer to full-blown gambling. The current financial laws and oversight are not suited for such trading. Over the years hedge funds and derivatives took on more and more of the investment strategy of major financial corporations. Derivatives that were based on risky mortgages and insurance eventually collapsed as housing prices plummeted with lendees’ inability to pay the mortgages. The result has been a credit lockup unforeseen in decades. Major financial companies toppled and its effects are still not fully known. Major companies that totally collapsed include Bear Sterns, Lehman Brothers, Washington Mutual, ANB Financial, Fannie Mae, Freddie Mac, and AIG. See this list for a more comprehensive list of financial collapses in 2008.
KBW Philadelphia Bank Index - performance since 2004
U.S. Recessions since WWII (Courtesy of CNN)
1. Recession or Depression – Which leads to the number one financial news in 2008. Are we in a deep and difficult recession or a depression? In early December, it became official that the U.S. went into a recession in December 2007. To some analysts, this is good news because it means we are closer to coming out of it. As you look at the chart on the right, most recessions last around one year. Based on the official Dec 2007 start date, historically we would already be on the tail end of the recession. However, to other analysts, this is bad news because the worst is yet to come, and we are already twelve months into it. With no light seemingly at the end of the tunnel, these analysts portend a long recession. Bad news from around the world keep coming in and the bottom of the current economic crisis still has not occurred. Oil prices continue to drop, gold prices have since rebounded (bad for economy), and the dollar index has begun dropping again. Signs of major inflation on the horizon are evident, especially with the massive bailouts and the Feds lowering the overnight interest rate to its lowest level ever, 0%-0.25%.
The entire 2008 Top 10 in Finance is all bad news. Most of them have to do with the current economic crisis. The key hope is that the Bush administration is finally over and 2009 brings a more adept and intellectual administration that will do just about anything to get America out of the economic dump. An administration that seems focused on the middle class and job creation. However, with it comes more and more national debt and the mortgaging of the future. There seems to be no alternative. This will most likely lead to long-term inflation when countries such as China, India, Russia and other Asian countries continue their rise to redefine the existing economic world order. This is not to say that the United States is doomed to be a second-bit player, as we know that is unlikely. However, the country needs to refocus on what made it a superpower in the first place, investments in technology, jobs, science, and innovation.
George Stephanopoulos asked Arnold Schwarzenegger what he thought if Barack Obama selected Hillary Clinton as his Secretary of State. After saying it would be a great move, Arnold goes on to talk about how Obama has to make sure that he and Clinton can work well together. This is what he said,
“And also that you maybe want to learn from that person and admire that person so much that you want to pick up some pointers and learn from that person, so that they together can go out and do this.”
Hehehe… Arnold’s so cool. Can’t believe he’s a freaking politician. When WILL he be back?
The crisis from the 2000 presidential election continued to leave a bad taste in the mouths of the voting public during the 2004 election and even the recently removed 2008 presidential election. To the outsider, the hanging chads and the recount after recount in Florida gave the impression that every person’s vote must count. However, everyone knew that it was one of those rare instances in American presidential politics that a single vote could actually make such a dramatic a difference. A single vote that could potentially give Florida’s electoral college votes to the winning candidate, and thus the presidency. When Florida and the presidency finally went to candidate George Bush, people were at least somewhat happy that the judicial and election systems of America had held its ground.
However, another interesting statistic left the Al Gore camp more perturbed. Candidate Gore had won the popular vote over George Bush. That means more people in the country had voted for Gore over Bush. But due to the electoral college system, Bush won the presidency. Mathematically speaking, each vote cast for Gore was actually worth less than one vote. Or, each vote cast for Bush was worth more than each vote cast for Gore. “This doesn’t seem fair”, the Gore supporters argued. Bush supporters responded, “Well, that’s the system for hundreds of years and it’s always worked. Stop complaining.”
Why did the founding fathers use an electoral college instead of a popular vote to determine the winner of the presidential election? In short, the founding fathers were skeptical of the will of the people or their ability to intellectually vote for the candidate of their choice. By inserting a safeguard, the electoral college, the founding fathers believed that if by that rare chance the will of the people was either misguided or that some populated region in America dominated the popular vote, the safeguard would protect American democracy.
Senator Ted Stevens of Alaska
Which leads me to why I think the electoral college, although in many cases a frustration and hints at unfairness, it is a necessary safeguard. Let’s look at one Senate race this year that could have used something like an electoral college. The Alaska Senate race between Republican incumbent Ted Stevens and Democratic challenger Mark Begich.Ted Stevens was convicted of seven counts of making false statements and taking bribes worth more than $250,000 to make renovations on his personal home. The evidence was overwhelming. After the announced conviction, bipartisan calls for Stevens removal were prominent, reaching up to federal level, including John McCain and Barack Obama. Even the governor of Alaska, Sarah Palin said at the time that he had broken his trust with the people and she planned to ask him to step aside. However, the news of the corruption did not affect Stevens attempt for an eighth term in the Senate as he won the Senate elections in November! This is a man who epitomizes the corruption in government and the Alaskan people still voted for him!!! He won by a 1.43% margin (roughly 3200 votes) over Begich. To make it more interesting, Sarah Palin switched her tone and declared that the will of the people had spoken and she would not ask him to step aside. In other words, she was okay with supporting the first felon elected to the US Senate in history!! What about the 46.61% of the people? Is the 48.04% that voted for Stevens the “will of the people.” It is not even a majority. However, the question that really needs answering is why did the people still vote for Ted Stevens? Had they no shame that they were electing a felon to the US Senate for the first time ever?
The corruption scandals associated with Senator Ted Stevens and Representative Don Young. The inexperience and ethical issues of Sarah Palin. The hilarious attempt of Mike Gravel to win the Democratic primary. The Bridge to Nowhere. And finally, the “will of the people” voting for convicted felon, Stevens. What is going on in Alaska?? I just think the people there live their own merry little lives and are disconnected with reality or don’t care for it. If the presidential election was ran the same way Alaska is, this country would be in big trouble. Are you telling me that if McCain or Obama was convicted as a felon, that they would still win the general election?
This example clearly demonstrates that the will of the people or the ability of the public to vote with due diligence and conscience is not always dependable. The electoral college works for an overwhelming majority of the time. It is only at times of a close race that it has the potential to rear its ugly head. However, if a race is that close anyways, theoretically it won’t really matter who wins since there is no definitive will of the people.
In the case of Ted Stevens and Alaska, I wish the founding fathers put the electoral college into Senate races as well. But of course they wanted to separate representation at the federal and state elections. Then again, I don’t know if I would trust the electoral college in Alaska either.
Tomorrow is one of the most important days in recent American history. It is a day that will affect the short term prospects of America and the standing of America in the world for the next century. The events and actions of the past eight years have accelerated the damaging path the country has embarked on for the past thirty years. The irresponsible actions have left America crippled economically, politically, morally and psychologically. Both parties have been hijacked by the special interests of corporations, ideological groups and personal interests. The values in which America was founded on have been distorted. The decision made by America tomorrow will go a long way in determining if we continue this egregious path of self-destruction.
The debt at the national, local and consumer levels are not only due to the actions of the past eight years. The decision by the Supreme Court in 1978 (Marquette National Bank of Minneapolis vs. First of Omaha Service Corp.) to deregulate interest rate caps at the state level was the precursor to the inundation of credit cards and the mortgaging of personal futures for the present. Although Reaganomics has been credited with bringing the country out of the vitriolic stagflation of the late 1970s, it has had a long term effect that has eaten away at the fiscal responsibility of the federal government. At the core of Reaganomics was reducing tax rates by reducing government spending which in turn was achieved by reducing costs associated with regulation and social programs. However, unexpected costs from the burgeoning Cold War resulted in large trade and federal budget deficits. In order to cover such deficits, the government began borrowing heavily both domestically and abroad. This decision to mortgage the future of the country for the present instilled a belief that debt is good, even to other countries, such as China, Japan and India. America became a borrower nation instead of a loaner nation, which it had been for decades during its prominence.
The deregulation of these two critical issues are the main causes of the current economic problems. It instilled bad habits at all levels of society. Although quality of life continued to increase the past thirty years, it was mostly at the cost of the future. Both politicians and individuals began feeling entitled to such luxuries and expected it to last forever. However, as analyzed by Pulitzer Prize winner Jared Diamond (Collapse: How Societies Choose to Fail or Succeed), it is this infectious mindset that causes great societies to fail. This country is at that critical juncture. Do we reinstate the values, sacrifices and hard work that made this country great or do we continue down this destructive path?
In addition to the present economic and ideological problems that endanger the quality of life of America, there are many massive elephants in the near future that can derail any sense of comfort in the nation. A fundamental restructuring of social programs like Social Security, Medicare and Medicaid is required in the next one or two presidencies before the effects of the baby boomer population cripple the flow of aid from the system. The high quality of life has left Americans lazy, fat and indifferent, and the medical costs associated with treating related diseases and health issues threaten to destroy the already broken health-care system. The super-highway system that supported the rise of American power is also the bane of the country’s dependence on foreign oil and its lavish automobile lifestyle. Furthermore, the infrastructure of America is crumbling and poses a danger to the lifeblood of a large country like America. A massive government infrastructure initiative is required within the next twenty years. The only question will be where does all the money come from? As globalization continues to redistribute the wealth and power of the world, the education system and America’s ability to compete are also being tested. American children continue to fall behind other countries at all levels of education, from middle school to college to graduate school. This country has been able to sustain its technological competitiveness partly through the immigration of top-level students from countries such as China and India. However, the current backlash on immigration coupled with the increasing prestige of other countries’ higher education systems, begs the question of how America will sustain its technological edge? Corporations and special interest groups as super-humans continue to eat away at the fabric of America. Their selfish narrow-minded view of profit and ideology permeate all levels of society, from individuals to the government. Ideology has especially polarized the country into two hardened stances, secularity versus ideology. The effects of this has left the country fearful and suspicious of each other. Finally, the effects of the internet and other entertainment-related technologies cannot be understated. Although they have created luxuries beyond anyone’s belief and increased the free flow of information, they have also created a schizophrenic society of 24 hour media frenzy and questionable freedoms of morality. The neutrality of journalism and the mental well-being of society are at stake. Coupled with the constraints of global warming and moral responsibility, the above problems must be faced responsibly.
These problems will definitely be difficult to face and resolve. Most of these have been simmering for years, but have been effectively ignored. However, what has always made America great has been its ability to come together as a country and sacrifice for the greater good of the country and the world. The sacrifices by this country during the Civil War and World War II for the greater good cannot be forgotten. Although society was simpler and less polarized then, the country must come together once again to face the unprecedented wave of issues that threaten to send America down the road of self-destruction.
Tomorrow begins that choice. Tomorrow the country decides which path to take, one of sacrifice for the greater good or one of continued wantonness. Tomorrow begins the day where America can begin reinstating the values that made this country so great. A country of uniqueness not found anywhere else in the world. A melting pot that protects individual rights and helps others at times of need. A constitution so strong that the thought of a revolution is unfathomable. The land of opportunity and openness. A land of thousands of parks and natural resources. The separation of church and state and the freedom of religion. The land of the best medical care and higher education system. A land of tolerance and hope. And the land of the free and the home of the brave…
Whomever you vote for tomorrow, please think openly and clearly. Without any bias of age, race, religion, and fear, think who will be better for America. Who will lead America towards a path of redemption and strength. A path that requires sacrifice but cherishes American freedoms. A candidate that realizes that what America needs now is a problem solver with pragmatism and humility, and not one fixated on idealism, intolerance and fear mongering. Look closely at your choice, and know that when you go home afterwards, there will be a better America tomorrow. A better America for yourself and your family, and also for its great citizens of today and tomorrow.
I’ve been so negative on the McCain and Palin campaign (I think justifiably), that I haven’t had too much time to dissect the negative aspects or questions regarding Obama’s campaign. Below I take a quick look at some of the issues that are warning signs or concerns or questions.
Obama once said yes to public financing
1. Any chance of publicly financed campaigns in the future are over – Since Obama changed his mind and refused to abide by the rules of public financing, he has far out-raised McCain because of private donations, each limited to $2500. As a result, due to his popularity and his campaign’s acumen for grassroots fundraising, Obama just announced his campaign raised over $150 million in September alone! That is such an unbelievable figure. John McCain, who does abide by the public financing laws, can only spend $84 million in September and October combined. It makes sense why Obama didn’t want to abide by it because he knew he can easily raise more than that amount by himself. Why limit his campaign to that figure? This discrepancy in financing has proven to be a very important advantage for Obama because he can spend tons of money in states he has only a small chance of winning, where as McCain has to use his money wisely. Obama has also taken out a 30 minute time slot right before the World Series game six! Future candidates will see how effective his internet fundraising strategy was and will believe they can duplicate that. No one will want to abide by the limits of public financing.
2. So where is all the money going to come from to fund Obama’s programs? – Although Obama has clearly been more detailed and specific than McCain has been on what he will do if he is elected president, it is still unclear as to how it will be done and where all the money will come from. He often mentions how McCain wants to use a hatchet but he wants to use a scalpel to cut costs. That means he will do a serious assessment of programs once in office, but as of a right now, we do not know which programs will be affected. The proposals he mentions are a common problem for presidential candidates in previous elections. They say they will spend this amount of money on this problem, but never give details on where that amount will come from. At least this is better than McCain, who has been vague at even what he is going to do. That being said, Obama’s ideas are still more practical and would better serve the middle class than McCain’s.
Barack the Celebrity
3. How far will his celebrity status take him or hurt him? – It is amazing the excitement that has surrounded Obama since he gave that famous coming out speech at the 2004 DNC convention. Since then he has beaten Hillary Clinton in the Democratic primary and now has a comfortable lead in the general election against McCain. His speech in Missouri last week drew over 100,000 supporters according to a police estimate. Is there some anxiety as to whether this is part bubble? He has led an almost perfect campaign, from his fundraising abilities, to his calm demeanor, to his ability to inspire. Is he truly a “transformational figure”, as well-respected Republican General Colin Powell said this weekend during his endorsement of Obama or is America in need of any inspirational candidate that he has been elevated to a higher celebrity status than deserved? Only time will tell.
A Divided America
4. As much as Obama has inspired the country, can he really unite a very divided America? – The race is still relatively tight (in some polls, only a 48-43 lead) even with all the gaffes and negativity surrounding the McCain/Palin camp. Why is this? Why is almost half the country still undecided or supporting a grumpy old man over a young inspirational man? As some have alluded to, race still plays an issue in present day America, even if it’s now more of a below the surface rumbling. Can Obama unite this country as President even if a good minority just won’t let him? This one seems more out of his hands and more about how much America has changed or hasn’t changed in the last 100 years.
The many non-doctored funny faces of John McCain during this 2008 presidential campaign! If I’m missing one, please let me know in the comments section. Which one is your favorite? Let me know in the comments section! Check back often, I will be updating them whenever I find more!
Third Presidential Debate (Photo by Mario Tama/Getty Images)
In the third presidential debate yesterday, John McCain again used the same logic when asked why the American public has an overwhelming perception that his campaign is much more negative than Barack Obama’s. He once again responded that because Obama declined to accept his challenge to have ten or more town-hall meetings, he had to go negative. Had Obama accepted, the tone of his campaign would not be so negative. Huh? I don’t get the connection or the logic behind that. The only thing I can think of is that McCain is bitter and taking vengeance on Obama for not wanting town hall meetings. That just makes McCain look worse. Like a bitter old man who pouts when he can’t get his way. It’s like a child throwing a tamper tantrum because his friend won’t play with him. So instead he steals his friend’s lunch money, and starts badmouthing him to everyone else. What the… How old is this guy?
I don’t see the point of having so many debates anyways. The second debate was a complete repeat of the first one. Even though the second one was a pseudo-town hall debate, it’s not like McCain did any better. The third one was finally different only because McCain was desperate and had to throw the kitchen sink at Obama, which Obama gracefully dodged.
QUICK TRIVIA QUESTION
ANSWER – Highlight with mouse
The United States presidential election of 1964 was one of the most lopsided presidential elections in the history of the United States. As of 2007, Johnson’s 22.6 percentage point-margin of victory in the popular vote is the fifth-largest such margin in Presidential election history (after the margins of the 1920,1924, 1936, and 1972 elections). Johnson won 61.1% of the national popular vote, which remains the highest popular-vote percentage won by a U.S.presidential candidate since 1820.
The latest cover story of Newsweek titled “The Palin Problem” is an excellent article. It explains in pretty basic terms why Palin’s argument for why she is a great VP candidate because she is a Joe Six-Pack or a Hockey Mom is so illogical and completely absurd. The problem facing Washington is not that America wants a regular Joe Shmoe in the office, it wants an exceptional person that looks out for the interests and fights for the Joe Six-Packs and the Hockey Moms of America. We don’t actually want one in office. Seriously, I definitely do not want a beer drinking, pot-belly scratching smelly Joe Six-Pack as Vice-President. I also don’t want a Hockey Mom in office either! When I go to a bar to watch football, I don’t see a single person I want as potential President of the United States.
Palin needs to focus more on what she has done as Governor and what she has done for the middle class of America. We want our leaders to strive for excellence, and to have a history of excellence. We expect more from them, and that’s the current problem with Washington. Does John McCain, with 7 houses and 11 automobiles really understand the problems facing the middle class? Does George Bush with his huge Texas ranch and political and elitist family connections really understand what the average worker in Pennsylvania is going thru? We haven’t had an exceptional leader who understood middle class America in a long time. Sarah Palin is not the answer. She might understand what middle class America is going through, but she doesn’t have the experience or history of striving for excellence to do what is right. Obama at least offers us that hope. Even Biden and his history of traveling to and from work every day and middle class connections has more of it.
Say no to Mrs. Hockey Mom and Mrs. Joe Six-Pack. So sick of hearing those words. Can’t she come up with better phrases and arguments…And she needs to stop saying she’s a Washington outsider. She’s way too much of a Washington outsider. Seriously, I can’t imagine her as president. It is a really scary thought to think if she is President what she would do to fix the huge economic crisis…